SBA Hurricane Sandy Loan Approvals Surpass $2 Billion

Six months after Hurricane Sandy struck the East Coast, the SBA said it has approved more than $2 billion in disaster loans to aid residents and businesses impacted by the destructive storm.

This milestone comes as the deadlines to file applications for physical disaster loans were extended in New York to April 13 and in New Jersey to May 1, the SBA said.

As of April 5, the agency said it has approved more than 30,000 home disaster loans for a total of $1.8 billion and more than 2,500 business disaster loans totaling $260 million.

After Sandy hit in late October, eight states – New York, New Jersey, Connecticut, Rhode Island, Maryland, Virginia, West Virginia and North Carolina, along with Puerto Rico – received federal disaster declarations, according to the SBA.